REGISTERED CHARITY NUMBER: 224856 Re rt of the Trus¢ee5 and au ed Finaii¢ial Statement5 for the Year Ended 31 Deceinber 2025 for Live ool Marine En ineers & Naval Architects Guild Johnstoiie Howell & Co Unit2 The Oaks Stanney Mill Lane Chester Cheshire CH2 4HY
Live ool Marine Enoineers & Naval Ar¢hit¢¢ts Ouild Conients CTrfthe Financial Staiemenls for Ihe Year Ended 31 De¢emb¢r 2025 Page Reference and Administrative Details Report of the Trustees Indepeiident Exaininevs Report Stsiement of Financial A¢tivities Balance Sheet Note5 to the Financial Sfai¢ment$ 7 to 13 Detriled Slaiement of Financial Activities 14 to 15
Live ool Marllie En ineers & Naval Architect Gu Referenc¢ ond Administrative Details for ihe Year Ended 31 December 2025 TRusfEES R J Troop R D ritz%170$, Chair J F Pope, Secretary AR Todd PRINCIPAL ADDRESS Guild Otrice, CIO James Troop & Co Ltd 4 Davy Road Astmoor Industrial Estate Runcorn Cheshire WA7 IPZ REGISTERED CHARITY NUMBER224856 INDEPENDF.NT F.XAMINER Jolinstone Howell & Co Unit2 The Oaks Sianney Mill Lane Cheslcr Ch¢shir¢ CH2 4HY NON-TRusfEE TREASURER D A Gallagher P8ge I
Live ool Marine En ineers & Naval Architects Guild Re Ort of the Truste¢s for the Year Ended 31 December 2025 The trustee5 present their report witl) the financial statements of the cl)arity for the year ended 31 Deceinber 2025. The trustees hAve adopted the provisions of Accouniints and R¢portin4p by Charilies.. Stotement of R¢comm¢Trded Practice applicable to charities preparing their a¢¢ounts in accLirdance with the Financial Reporting Standard applicable in the UK at)d Republi¢ of Ircland (FRS 102} (effective l January 2019). OBJECI'IVES AND ACTIVITIES Obje¢tiv¢s and aim$ The Guild's principal activity is the granling of rElief frgm ilie funds of tli¢ Guild and th¢ income arising therefrom lo necessitous and deserviiis persons ¢onnec*d with the profession of Marine Engineers and Naval Architects. The Committee decides who are proper subj¢¢ts for such Telief and include the following.. M¢mb¢rs of the Guild. tlieir wives and faTnilies, or ihe widvws ¥n(Ilor fainiSi¢s of d¢ceas¢d m¢inbers. Persons who have been engaged d5 Murine Engineer Officers in the Liverpool and Merseyside Area, their wives, widows andlor fainilies. Persons who are or who havc been Consulting Engiiieers or Naval Ar¢liil¢cts practising in tlie Liverptsol and Merseysid¢ area, or thcir tcchnical sratTs, rh¢ir wives. widows andlor fRmilies. P¢rsons who havc been eiigaged as Marine Engineer OftlLer¥, Iheir wives. widows andlor fainilies- in any vessel owned or managed by any member of the Pori of Manchester, or by a Firm or Company any member or director of which shall be a meinber. Officers and ¢inploy¢¢s of Ihc Guikl, their wives, widow$ endlor families. Surpliis income may be allocot¢d annually for chari&ble purposes deeined suitable by those attending the Annual General Meeting with parli¢ul8r ¢tsn5iderution beiiig given lo ihe assistante of ycjulli in Inarine Itlalcd educaliuii or siinilar purbuits. SlgnlficAnt Aetlvltles Tlic Cliyrity has continued during the yeor lo give assistan¢e io anyone who11&$ served in the Marine Engineering or Naval ArLliit¢cluTal professions iii the Merseysid¢lMan¢h¢si¢i' 8r¢as or ih¢ir dcpend¢n(% in thc ¢veiii ihat tliey were experiencing serious tinanLial hardship. Ils ¢urr¢nt and recent activities include provision of regular financial a%%islanee tn elderly mcii and women, assistanLg wilh nursing home fccs the provi5ioiI of Inobility ¢qUlPinent to thos¢ whose afflictions have left theni physically impaircd. Any 5urplu5 income afler these needs have been mel is allocated aniiudlly by the membership for the cliaritable promotion of educalioii, lucal youth needs and in suppor¢ of lo¢al ¢haTitable organisations invulved in the marine industry. The Chariry ha$ a¢l?ieved these objectives durins the financial year under review. It is intended to undertake similar charitable work for the foresccablc future. Fund5 will be raised from a niixlure of events coinbined wilh menibership fees and investment incoine. The Charity is run and operated entirely by tli¢ Honorary oifi¢¢rs. Grantm#kinE Surplus income may be allocated annually ftir charitable PilTposes deemed suitable by those ettendiTrg the Annual General M¢¢ting with pariicular consideration being given to the assistance of youih in marine related education or siinilar pur5uiIs. Fll¥ANCIAL REVIEW Investment policy and objectLYes The monie5 for the time being belorLgin8 to (lie Guild may b¢ invested by th¢ Trustees in or upon one or more of the stock, shares or securities following that is to say.. public stocks oi funds, or Government securities of the United Kin(rdom, or upon freehold or chattel, real securities in Entslafid and Walcs, or th¢ bonds, dcbcnturcs, ur dcbcnturE Stock, or guaranteed stock, or preference or ordinary sharc5, or stock of any corporation. company or public body or authority, municipal, loc£l, coinmer¢i81 or otherwise with liberty for the Tru51ees to vary tlie inve5tinents from time to tlln¢ for any other investments of Ihe des¢ription authori5ed. Page 2
Live ool Marine En iiieers & Naval Architects Guild ort of tlie Trustees for the Year Ended 31 December 2025 FINANCIAL REVIEW Reserves poliey The Guild deein5 all funds to be free funds (unrestricted funds) for use in achieving the objectives of the Guild. The Trustees view is (hai it is prudenl lo eiisure Iliat there are sU1¢icnI funds to provide financial flexibility for the developmeni of the Guild. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing docuML'nt The Gvild is an unincorporated registered Charity. The governing document of th¢ Guild is its 'Rul¢s of the Guild" (Trugt De¢d) as amended and agreed by The Charity Comniis5ioiI 011 12 Jiin¢ 2002. Rtcruilment and appointment of new trustees A new irusiee or Irusiees Illciy be Jppointed by mciiibcrs at an Annual Cjeneral Meeiing, or at a Special Meeiing called for Ihk)I purpose. 'fhe nuiiiber of trustees sl)ould never be less Ihan tivo and iii the case of the number becoiniii&T reduced to less than two. a new trustee 10 bring th¢ nuiiiber up lo two or more shall be appointed al the Annual General Meeiinb? next following such a reduction, or by Special Meeting. Approved by order of ihe boaTd of tTUStee5 on 9 April 2026 and signed on ils behall'by.. J F Pope, Secretary- Trustee Page 3
Inde endent Examiner's Re ort to the TTUStees of Live ool Marine En ineers & Naval Architects Guild Independent examÈner's report to the trustees of Liverpool Marine Engineers & Naval Architects Guild I ptsrt to the charity trusiees on my exaniination of (he accounts of Live()[ Marine Engineers & Naval Architects Guild (Ihe Trust) for the year ended 31 December 2025. Responsibilities and bosis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Cliaritie5 Act 2011 {'the ACV). I reporr in respect of my ex8miiiation of the TrusV5 accounts carried out under Section 145 of the Act and in carrying ou¢ my examination I have followed all applicable Directions given by the Charily Cotninission undei. Section 145(5Xb) of the Act. Ir]dependent ex¥min¢r's Statement I have completed my examinatioi). l ¢onfirm Ehal no material mall¢rs hav¢ ¢ome to my ai*n¢ion in connection with the exainination giving m¢ ¢au5¢ t(Tr believc that in any material respect.. accounting records were nol kept in respeLt ¢)f the Trusi as required by Seciion 130 of ihe Aci. or the aLLounts do not accord with thosc rccord5', or tlie accoui)ts do not comply with the appli¢ftble r¢ouir¢m¢nrs ¢onc¢rning (he fomi and conieni of accounts set out in the Charities {A¢¢ounts and Reports) Regulations 2008 other than any requiT¢rneTht that the accounts give a tru¢ and fair view which is not a matter considered as pari of an indepeiident examinalion. I have no eoiicern5 and hav¢ come acr055 no othcr mattcrs in conncclion with thc examination to which attentiort should be drawn in thi5 report in ol'der lo cnable a proper und¢rsthnding of ih¢ a¢¢ounts ro be reached. A M Ba8nall John5tone Howell & Co Unit2 The Oaks Stanney Mill Lane Chester Cheshire CH24HY 9 April 2026 Page 4
Live ool Marine En ineers & Naval Archit¢¢ts Guild Statement of Financial Activities for the Year Ended 31 Deceinber 2025 2025 Unresiri¢icd fund 2024 Total fi>nds Notes INCOME AND ENDOWMENTS FROM Donations and l¢ga¢ies 1,788 390 Other trading activities nvestment ineome 30.875 22,277 22,547 23,478 Total 54,940 46,415 EXPENDITURE or4 i5ing funds 30,564 24,072 Charitable activities Financial assislance 37,963 30,213 Other 1,476 948 Total 70,003 55,233 Net gainsl(1ts5se51 on investsnents 59,154 14.929) NET JNCOMFI(EXPENDITURE) 44,091 (13,747) RECONCILIATION OF FUNDS Toial funds bruuJt turward 687.731 701,478 TOTAL FUNDS CARRIED FORWARD 731,822 687,731 The notes fortn part of these financial stktements
Live ool Marine En ineers & Naval Architects Guild Balance Sheet 31 December 2025 2025 Unr¢stri¢t¢d fund 2024 Total funds Notes FIXED ASSETS Inves(Tnents 635.854 576.700 CURRENT ASSETS Debtors Cash ai bank 1,908 94,822 6,868 104.902 96.730 CREDITORS Amounis lalling> due within one year 17621 1739} NET CURRENT ASSETS 95,968 TOTAL ASSETS LESS CURRENT LIABILITIES 731,822 687,731 NET ASSETS 731,822 687,731 FUNDS Unrestricted funds 731,822 687,731 TOTAL FUNDS 731,822 687,731 rhe financial statements were approved by the Board of Trustees and authorised for issue on 9 April 2026 and were signed on its behalf by.. J F Pope, Secretary- Trustee The notes form pan of these financial ststements Page 6
Live ool Marine En ineers & Naval iteei Guild Nnt¢s to the Financial 8tatcincnl% for the Year Ended 31 December 2025 AccouwrtNG POLICIES BAsi5 of preparing the financial statements The financial st&iemeniS of the charity, which 15 a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accountin(r and Reporting by Cliarities.. Statement of Recoinmended Practi¢¢ appli¢abl¢ to charities prepariiig th¢ir accounts in a¢¢(xdance with thc Finaiicial R¢porting Standard applicable in the UK and Republic of Ireland {FRS 102) (etyective l Janufiry 2019),. Financial Reporlin¥ Standard 102 'The Finyncial R¢poTting Standard applicable in the UK and Republic of Ireland, and the Charities Act 201 1. The finanLidl b&tein¢nt5 have been prepared under ih¢ historical cost convention, with the exception of investments which are included at mark¢i valu¢, as modifi¢d by the revqlualion of c¢rr8in esseis. Ineome All income is recogi)ised in the Staiement of Financial Activities oli¢¢ the ¢harity has entitlement to the Thd$, it is probable Ihat ilie inco1¢ will be re¢eiv¢d and the amount Can be mea5ur¢d reliably. Eypendlture Liabilitics are rccogiiised as expenditure as sooii as ihere is a legal or conslructive obligation committing tlie charity to thal expenditure, it is probable tl)at a transf¢T of e¢onomi¢ benefits will be r¢quired iii settleinent ind the amount of rhe obligation can bc mcasured reliably, Expenditure is accouiited for on an accruals basis and has been classified under l)eadings ih8t aggr¢gai¢ all ¢ost rel#ied 10 tlie caiegory. Wli¢r¢ cosis ¢8nnot be dire¢ily attributed to parti¢ul&r headiiigs they liave been allo¢ai¢d io a¢(ivilies 011 a basis coi)sisi¢ii¢ with ihe use of resources. Grants olTered subject to conditions which liave no¢ been met at the year end da* are noted as a coiiimilmeni bui noi acerued as exp¢nditure. Tfixjtlon The Lliarity is exempt fron) tsx on its charitable activities. Fund ae¢ounllng Unre5tricled fiinds can be used in accordance with ilie charitable objectives at the discretion of the trusle¢$. Restricied fund5 can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when spccified by the donor or when funds are raised for paTti¢ular restri¢¢ed purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial stdlements. OTHER TRAD]f4G ACTIVITIES 2025 2024 The annual banquet Annual dinner dance Golf 24,480 17,032 3,770 1,743 6.39S 30,875 22,547 Page 7 continued...
Live ool Marine En ineers & Naval iects Guild Note% to the Financial 8tatcm¢nlS- ¢ontinu¢d for the Year Ended 31 December 2025 ITrIVEsfMENT INCOME 2025 2024 Dividends and interesi on secuTlties Deposit account interest 21.303 974 22,402 1,076 22,277 23,478 RAIsc FUNDS Other trRdlng actlvltles 2025 2024 Tlie annual banquet AnniiaS dinn¢r den¢¢ Golf 22,305 3.348 1,483 3,814 26,119 20,019 Investment manggenient eo$t$ 2025 2024 PoTifolio management 4,445 4,053 Aggregate amountg 30,564 24,072 TRUSTEES, REMuf+lERATION AND BENEFITS Ther¢ werc no trust¢¢s' r¢mun¢ration or other benefits for the year end¢d 31 Deceimber 2023 ntsr for the year ended 31 December 2024. Tru5tees' expenses 2025 2024 Truste¢s' expenses 714 190 Page 8 continued...
Live ool Marine Ell ineers & Naval Arc itects Guild Not¢s to tlic Finan¢i81 Stst¢mcnts- ¢onlinucd for the YeaT Ended J l December 2025 COMPARATIVES FOR THE STATEMENT OF FITrIANCIAL ACTIVITIES Unr¢stTi¢¢ed fund INCOME AND ENDOWMENTS FROM Donations and lega¢ies 390 Other tradin8 aclivilies Investment inetsrnt 22,547 23,478 Tot81 46,415 EXPENDITURE ON Raising funds 24.072 Cliarllnble aetlvltles Financial assistance 30,213 Oiher 948 Total 55,233 Net gMinsl(losses1 on investments {4.929) NET ]NCOMFI(ZXPENDITUREI 113,7471 RECONCILIATION OF FUNDS Total funds brou81)t forward 701,478 TOTAL FUNDS CARRIED FORWARD 687,731 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l January 2025 Revaluaiions 576,700 59,154 At 31 Deceinber 2025 635.854 NET BOOK VALUE At 31 December 2025 635,854 Al 31 December 2024 576,700 Page 9 eontinued...
Live ool Marine En ineers & Naval itects Gu-ld Notcs to th¢ Financial Stat¢menis- ¢ontinu¢d for the Year Ended 31 December 2025 FIXED ASSET INVESTMEJYTS- eontlnued Histtsri¢al ctsst at 31 Deceinber 2025 - £456,479 (2024 - £460,791). 2025 2024 Investmenf assets in ihe UK lTrvcstment assets outside the UK 387,871 247.983 346,020 230,680 635.854 576,700 Investment5 exceeding 50/• by value of the toial poiifolio.. 2025 2024 Trojan Fund X GBP DIS Inves¢0 Ctsry)orate Bond IJK 7. t)18 Atlantic House Defiiied Returns l GBP DIS SPDR S&P US Dividend Arisiocrais EFT GBP Rio'l'into Naxlixis Inv FDS Loomis Sayles US Equity 49.446 46,112 41,444 38,009 34.765 32.694 45,942 44.898 39,541 38,425 27,393 30,850 Cost or valuation at 31 December 2025 is represenied by.. Listed investments Valuation in 2025 6J5,854 DEIITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors 1.908 6.868 Page 10 continued...
Live ool MaTine En ineers & Naval Architects Guild Notes to ihe Financial Statements- contTnued for the Year Ended 31 December 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other Creditors 762 739 io. MOVEMENT IN FUNDS Net moveineiil in ndS At 31.12.2S A¢ 1.1.25 Unre5tricled funds General fund 687,731 44,091 731,822 TOTAL FUNDS 687.731 44,091 731,822 Net movement in funds. included in the abov¢ are hs follows: Incoining resour¢eg Resources expended Gains and losses move1ent in funds Unre$lrl¢led funds General fund 54,940 (70,003) 59,154 44,091 TOTAL FUNDS 54,940 {70,003) 59,154 44,091 Compfiritlves for movement Sn fund$ Ne¢ movement in fijnds At 31.12.24 At 1.1.24 Unreslrif ted funds General fund 701,478 (13,747) 687,731 TOTAL FUNDS 701,478 (1),747) 687.731 Page 11 continued...
Live ool Marine Cn ineers & Naval Archiiecls (iuild Notes to the Financial St2teinents- continlled for the Year Ended 31 December 2025 10. MOVEMENT IN FUNDS- continued Compardiive nei movement in funds, included in the above are a5 follows.. Incoming resourees R¢sour¢es expellded Gains and losse$ Movem¢nt in funds Unrestricted funds General fund 46,415 (55.233) 14,929) (13,747) TOTAL FUNDS 46.415 (55.233) 14.929) (13,747) A curient year 12 n)onlhs and PTior year 12 months coinbined position is as follows: Net movement in ndS At 31.12.25 At l.1,24 Unrestrleled funds General fund 701,478 30,344 731,822 TOTAL FUNDS 701,478 30,344 731,822 A current y¢ar 12 Inonihs and prior year 12 months combined net moveineni in funds, included in the above are 85 follows.. Incoining resources R¢soui'ces expended Gain$ aiid losscs Movcrnenl in funds Unrestrlcted funds General fund 101,353 (125,236) 54225 30.344 TOTAL FUND 101,355 {125,236) 54,225 30,344 Page 12 ontinued.-.
Liv¢ ool Marine Entrin¢¢rs & Nawal ATchitects Guild Notes tts the P inancial Staternents- eontinued for the Year Ended 31 December 2025 RELATED PARTY DISCLOSURES There wer¢ no r¢lat¢d party transactions for the year ended 31 Deceniber 2025. Paoe li
Live ool M<irsnc Enoin¢ers & Naval Architects Guild Detailed St&temenl of financial Activities for the Year Ended 31 Deceixber 2025 2025 2024 INCOME AND ENDOWMENTS Donations #nd leg4¢ie$ Donations 1,788 390 Other trading aetivities The annual banquet Annual dinner dance Golf 24,480 17,032 3,770 1,745 6,395 30,875 22,547 Investment Income Dividends and interest on securities Deposir a¢count inteTest 21,303 974 22.402 1.076 22.277 23,478 Total incoming resources 54,940 46.415 EXPENDITURE Oth¢r Irftdlnx A¢llvllles The annual banquot Annuxl dinner dance Golf 22.305 15,188 3,348 1,483 3.814 26,119 20,019 Investment mlln4%emenl ¢o$t$ Portfolio manag¢m¢nt 4,445 4,053 Cljarltable aetivities Grant5 lo institution5 Grants to individuals 5,500 32,463 7,813 22,40Q 37.963 3a,213 Olhcr Trustees, expens¢s 714 190 Support costs Finance Bank and tsther trnn5acti(Fn Charges 20 This page does not forni part of the statutory fmancial statements Page 14
Live ool M2rinc F.n in¢¢rs & Naval Architects Guild Detoiled Statement of Pinaiicial Activities for tl)e Year Ended 31 Decen)ber 2025 2025 2024 Flnance Governance ¢o$ts Accountsncy and leJD I fees 762 738 Total resources expended 70,003 55233 Net expenditure 115,063) (8,8181 This page does not form part of the statutory financial statements Page 15